The $光源 FDV market has taught us a lot. 🙏🏻
The root cause of this incident was that our market rules were not designed rigorously enough, and did not effectively prevent market manipulation. We have always aimed to put user protection first, but this time, because of flaws in our design, some users suffered losses. For that, we are truly sorry.
Next, the following actions will be taken:
- For the 93 affected users who held the $500K–$1M outcome at resolution, we will provide full compensation. Over the next few days, we will gradually send the compensation directly to your wallet addresses.
- We also sincerely hope that all users will participate more actively in using our product and sharing feedback. The issues everyone pointed out during this incident have taught us a great deal. We hope to continue learning from you and hear your feedback, so that we can make the product better.
- Lastly, we will further strengthen our review of market design to improve market resistance against manipulation. We will provide more updates as soon as possible regarding the specific rules and follow-up adjustments.
Thank you again for your patience and feedback throughout this incident. We will take responsibility seriously and make sure the lessons from this incident are reflected in our future product design.
When you ask, we deliver.
42 was born in the trenches. That’s where we learned what trading actually feels like, so when our community wanted 42 to feel more like memes, the only move was to dive in.
From now on, the assets issued on 42 will be officially known as Event Memes.
If you’re new here: on 42, every outcome of an event is an Event Meme. The price moves on sentiment the whole way through. When the event resolves, the winning outcome absorbs everyone else.
Here are the upgrades coming next week:
- New UI and metrics built for how memecoin traders actually trade
- Anti-sniping. For the first 20 seconds of an event, snipers pay a premium that decays linearly to zero. Every cent flows into the pool, so the winning outcome pays out bigger.
- A stack of technical upgrades to make trading faster, sharper, better
This is the first move. We’re shipping faster from here.
We wouldn’t be here without you. Keep telling us how to make your experience better💜
Meet Event Rush, provided by @42space! Opinions are now tokenized.
Buy and sell event tokens on sports, news, crypto, and more.
Changed your opinion? Change the token.
Start now on Binance wallet ⤵️
https://t.co/9BYjElGKCh
Just traded on @42space: "Paris Saint-Germain vs Arsenal"
42🪻 | an asset issuance protocol where future events trade like memecoins and settle like prediction markets.
https://t.co/n1rEb1KM19